October 2023

Profit is a non-negotiable aspect for any business to work, (unless it’s a non-profit organization) without it there would be no business to run, or there would be a big crisis and pressure for the business to sustain itself over time. By being the 4th biggest industry in the world, estimated to have a revenue in between 1.7 trillion and 2.5 trillion dollars, before the pandemic, (reports by Euromonitor and McKinsey) the Fashion Industry has a major impact on the economy of the world, as well as an impact on the environment and the people in it.

In the Fashion world there are always countless of upcoming trends that come and go, that tend to generate a lot of profit for the business following them, although risking having a small number of loyal consumers, as well as no stable visual identity or cause that people could possibly relate to. “A closer look at the fashion industry reveals a diverse landscape, divided into various sub-sectors. Luxury fashion, characterized by high-end brands, tends to enjoy the highest profit margins” (Global Fashion Agenda, 2019). Although fast fashion has other techniques to make profit, such as the production of stocks and cheap products which are not good to the environment, leading many businesses to do greenwashing. The luxury brands tend to make people crave what they sell by making people believe it’s more exclusive due to the quality as well as the prices, showing how branding can differentiate one and another.

While it’s impossible to have no economic crisis in a business, some brands within the fashion world seem to be less affected by it than others “The fashion industry, like any other, is susceptible to economic uncertainties” (Harvard Business Review, 2018). Within the business world, flexibility is an important factor especially during hard times. Zara, the Spanish brand, although a fast fashion brand, it has a strong brand identity and more importantly, it has a global presence, so during uncertain economic times, Zara is able to depend, profit and grow from other places and not just one.

Adding to that, creative directors on the contrary of what people think, they don’t only do things related to the creative side of the industry  “Creative directors are the unsung heroes of the fashion industry. They curate brand images, design collections, and drive innovation” (Journal of Fashion Marketing and Management, 2020). They also deal with the financial goals of the brand, more specifically controlling the designs, so it aligns to these economical goals. 

The Fashion Industry, unlike many think, it’s not only related to arts, there is a lot of finance, marketing, investigations and studies behind the consumers and what they like, to try predicting their future behavior and profit from it. 

Reference List:

1. McKinsey & Company. (2019). The State of Fashion 2019. McKinsey Global Fashion Index. Retrieved from https://www.mckinsey.com/~/media/mckinsey/industries/retail/our%20insights/the%20state%20of%20fashion/2019/state-of-fashion-2019-vf.ashx
2. Global Fashion Agenda. (2019). Pulse of the Fashion Industry. Retrieved from https://www.globalfashionagenda.com/reports/pulse-of-the-fashion-industry-2019/
3. Harvard Business Review. (2018). How Data Analytics Is Transforming the Fashion Industry. Harvard Business Review. Retrieved from https://hbr.org/2018/03/how-data-analytics-is-transforming-the-fashion-industry
4. Varley, R., Roncha, A., Radclyffe-Thomas, N. and Gee, L. (2019) Fashion Management: A strategic Approach. London: Red Globe Press. [ebook]
5. Mitterfellner, O. (2019) Fashion Marketing and Communication: Theory and Practice Across the Fashion Industry, Taylor & Francis Group, Milton.
6. Mitterfellner, O. (2023) Luxury Fashion Brand Management and sustainability: Unifying fashion with sustainability. New York: Routledge.
7. Overdiek, Anja. (2016). Fashion designers and their business partners: Juggling creativity and commerce. International Journal of Fashion Studies. 3. 27-46. 10.1386/infs.3.1.27_1.

When we think of profit, we immediately think of numbers. We think of the amount of money earned beyond the cost of production. While the economic increase is crucial for stability, the social and cultural capital is vital for the growth of the business (Bourdieu, 1993). These factors define the Profit Pillar. Cultural capital considers knowledge of culture acquired through our upbringing and exposure to our surroundings. Social capital identifies networks and connections that may prove to be beneficial in the future (Bourdieu, 1993).

Fashion is a competitive field that is changing and growing every day. The global value of the fashion industry is about 3 trillion dollars and it employs 57.8 million people overall (Mair, 2018). To survive in such a fast-paced and cut-throat industry, businesses need to develop a strong identity and story that is reflected in their products. Expressing uniqueness is the key to success for a brand, as it is a quality that is desirable for the audience. For example, Apple is known for its focus on innovation, sleek design, and user experience. These selling factors have attracted a loyal customer base and helped the company differentiate itself from its competitors (Imbimbo, 2009) (Two Teachers, 2023).

To remain profitable, a company must attempt to maintain a loyal customer base and expand its outreach to new customers by adapting to consumer priorities (Amed, 2022). These priorities change based on the developments in our surroundings. For example, an increased awareness of climate change has promoted slow fashion, minimalism, and sustainability in 2023. Covid-19 pushed companies to shift to digital platforms and take on new methods of marketing. For example, TikTok gained popularity for its short-form, influencer-centered videos during the pandemic (Azpeitia, 2021). It became a prime location for brands to collaborate with influencers to reach beyond their target audience (Azpeitia, 2021). It also became a popular place for small companies to promote their brands and grow.

For the fashion industry to continue its upward trend and expand, it is critical to optimize new ideas and benefit from creativity. Creative directors shape and establish vision as part of marketing. They are responsible for presenting a story that sticks with viewers and entices them to become consumers. This can be done by relating to the customers so they feel represented and comfortable. For example, Djerf Avenue is a Swedish fashion brand that is founded and managed by women. They have a wide variety of models with hearing impairments, on wheelchairs, of different ages, and races in their fashion shows. Images of models on their website are unedited and natural. According to the New York Times, their revenue in 2021 was $8 million and is expected to reach $22 million by the end of 2023. This reemphasizes how the key to profitable success is uniqueness.

Bibliography

Amed, I, et al. (2022). The State of Fashion 2023: Holding onto growth as global clouds gather. McKinsey&Company. https://www.mckinsey.com/industries/retail/our-insights/state-of-fashion

Azpeitia, J. (2021). Social media marketing and its effects on TikTok users.

Bourdieu, P. (2018). The forms of capital. In The sociology of economic life (pp. 78-92). Routledge.

Imbimbo, A. (2009). Steve Jobs: The Brilliant Mind Behind Apple: The Brilliant Mind Behind Apple. Gareth Stevens Publishing LLLP.

Isaacson, W. (2012). The real leadership lessons of Steve Jobs. Harvard business review, 90(4), 92-102.

Mair, C. (2018). The psychology of fashion. Routledge.

Moritz, M. (2009). Return to the little kingdom: How Apple and Steve Jobs changed the world. Abrams.

Two teachers. (2023, April 28). 3 Ways Apple Built Their Brand. Two Teachers; Two Teachers. https://www.twoteachers.co.uk/post/3-ways-apple-built-their-brand#:~:text=Apple

The pillar profit represents how economic viability and financial health of businesses are two essential factors for the fashion industry. During profit week, we examine the obstacles and strategies that fashion companies employ to achieve financial success while respecting moral standards and encouraging innovation throughout.

The fashion industry is one of the largest global industries and was valued at about $2.5 trillion in 2020. This includes various sectors, such as apparel, footwear, textiles etc showing the industry’s global impact. However, the ”fashion industry is again facing a challenging climate”(Imran Amed et al., 2022).

The performance of various areas within the fashion business varies depending on consumer demands, changes in the economy, and new trends. The digital era has greatly increased e-commerce’s growth, but conventional retail has encountered difficulties that have given rise to creative solutions like omnichannel experiences. 

In 2010, DOMENICA PETERSON ”cofounded the non-profit Global Action Through Fashion (GATF) with the vision to create a more equitable and sustainable world through fashion, and in 2014 Domenica launched Averti, a luxury loungewear and lingerie line hand made in Los Angeles, California” (Peterson. D, 2015). This initiative is an excellent example of strategic adaptability, a skill essential for a brand in unpredictable economic environments. Brands must make significant effort to have an online presence which allows them to successfully connect with the customers/ consumers. Moreover, brands can diversify their products and maximise their supply chains.

This results in higher efficiency rate and lower overheard costs (Locomexgroup, 2023).

The link between artistic expression and financial viability is provided by creative directors.

These directors must learn how to balance between originality and market viability by conceptualizing designs with an understanding of consumer demands and market trends.

This can help bridge the gap between creativity and, buying and selling thus optimizing a brand’s profitability.

References:

Imran Amed, André, S., Balchandan, A., Berg, A., & Rölkens, F. (2022, November 29). The State of Fashion 2023: Holding onto growth as global clouds gather. McKinsey; McKinsey & Company. https://www.mckinsey.com/industries/retail/our-insights/state-of-fashion

J. Hethorn and C. Ulasewicz (Eds), Economic Impact of Textile and Clothing Recycling. Sustainable Fashion: What’s Next. A Conversation about Issues, Practices, & Possibilities. New York: Bloomsbury. Pp. 204-230.

Peterson, D. (2015). Social Media as a Tool for Social Change. Www.bloomsburyfashioncentral.com. https://www.bloomsburyfashioncentral.com/encyclopedia-chapter?docid=b-9781501312250&tocid=b-9781501312250-chapter4

Locomexgroup. Top Benefits Of Supply Chain Optimization. (2023, February 21). Locomexgroup.com. https://locomexgroup.com/top-benefits-of-supply-chain-optimization/

Profit is the main aim of most fashion businesses out in the world. To maintain profit, fashion brands from small startups to established luxury brands all consider strategies for preserving competitiveness with each other in uncertain economic times. Also, in this, the role of creative directors is essential in balancing creativity and commerce. 

THE SIZE OF THE FASHION INDUSTRY 

The fashion industry is massive, both in terms of revenue and global impact. According to the statistics, the revenue of the global apparel market was calculated to amount to 1.53 trillion U.S. dollars in 2022, then forecast to increase in 2023, to more than 1.7 trillion dollars. (Statista. 2023.) 

The industry encompasses a wide range of sectors, from fast fashion to luxury brands. It also employs millions of people worldwide, from designers and manufacturers to marketers and retailers. 

THE PERFORMANCE OF THE VARIOUS SECTORS OF THE FASHION INDUSTRY 

Due to how big the fashion industry is, it comprises various sectors, each with its own unique challenges and opportunities. Sectors may include fast fashion such as Zara and H&M that are on-trend and affordable however they do not consider ethical practices and sustainability. Luxury fashion such as Dior have high-quality products, but they need to adapt to the digital age and appeal to younger consumers. Sustainable and eco-friendly fashion brands are rising changing consumer values, but they are still considered as ‘pricey’ by younger consumers. 

HOW DO BRANDS REMAIN COMPETITIVE IN UNCERTAIN ECONOMIC TIMES? 

The industry is big and there are so many sectors so for the companies to be kept competitive in the field, it requires adaptability to new fresh approaches. The focus of the companies recently is the emerging concept of ‘digitalization’ and ‘metaverse’. 

‘Metaverse’ is basically a ‘second world’ where the creativity is unlimited virtually (McKinsey & Company. 2022). Brands focus on the metaverse as it is where people work, socialise, and shop to engage more creatively with their customers and unlock new value streams (McKinsey & Company. 2022). Virtual clothing could also be useful for both consumers and companies because they do not require much consideration of environmental impact because they are digital, no real fabrics are needed. Furthermore, fewer employees are required to produce the garments compared to the real clothes. 

As gaming increasingly becomes popular during the pandemic, it has become a prime target for fashion brands. One example of this could be a South Korean avatar simulation app Zepeto that is targeted to the younger generation, collaborating with Ralph Lauren. This shows that a strong online presence is essential. Brands need to invest in user-friendly websites or apps, social media such as TikTok or Twitter, online marketing to reach a wider audience. 

THE ROLE OF CREATIVE DIRECTORS BETWEEN CREATIVITY AND COMMERCE 

Not only being adaptable to new technologies keeps the industry competitive. Creative directors play a pivotal role in this by balancing artistic vision with commercial viability. (Mitterfellner, O. 2023) 

A good case example is Karl Lagerfeld who worked as a creative director for Fendi and Chanel. In 1965, he designed the famous FF logo, transforming the brand’s name into a highly marketable and recognisable logo, giving creative vision to many aspects of the brand such as the design of the catwalk shows. (Mitterfellner, O. 2023) 

The important characteristic of the creative director is to understand the brand identity very well. One of his key strengths was his profound understanding of the brands he worked for, which allowed him to create designs that resonated with Chanel’s loyal customer base while attracting new, younger consumers.  

Furthermore, innovation and risk-taking are also important. Lagerfeld was known for his fearless approach to design. He continuously pushed the boundaries of fashion, introducing new ideas, materials, and styles while staying true to the brand’s DNA. His ability to balance creativity with risk-taking was significant in keeping Chanel alive and kept at the forefront of the industry. 

BIBLIOGRAPHY 

McKinsey & Company. (2022). The State of Fashion 2022. https://www.mckinsey.com/~/media/mckinsey/industries/retail/our%20insights/state%20of%20fashion/2022/the-state-of-fashion-2022.pdf 

Mitterfellner, O. (2023). Luxury fashion brand management: Unifying fashion with sustainability. Taylor & Francis Group. 

Statista. (August 24, 2023). Revenue of the apparel market worldwide from 2014 to 2027 (in trillion U.S. dollars) [Graph]. In Statista. Retrieved October 20, 2023, https://www.statista.com/forecasts/821415/value-of-the-global-apparel-market 

Profit in fashion refers to the financial and commercial sides of the industry. After the Second World War, consumption in fashion started to grow as people had a higher excess income once the economy started expanding. Since then, the fashion industry has continued to become a very large and profitable industry. 

COVID-19 was a long period of uncertainty in the fashion economy and impacted many businesses pressuring them to be innovative to adapt to different lockdown measures globally.  Many jobs in the fashion industry and social events such as fashion weeks are complex to transition to online and socially distanced. However, the challenging period was also an opportunity for fashion businesses to focus on digital and technological creativity. In a Forbes article (Roberts-Islam, 2020), Matthew Drinkwater discusses how the workload for the team at the Fashion Innovation Agency ‘escalated sharply during the crisis’ due to a ‘dramatic shift towards digital solutions’ throughout quarantine. The continual demand for fashion as well as fashion week throughout lockdown, led to more fashion companies utilising online platforms to receive consumer engagement.

In addition to digital skills, brand differentiation and authenticity are also key elements for creative directors to bridge the gap between creativity and commerce in a fashion business. Virgil Abloh, former managing director of Off-White and artistic director at Louis Vuitton, is an example of how creative directors can drive commerce and innovation through art. In his biography by the Business of Fashion, Virgil Abloh ‘reinvented the role of a creative director’ and is compared to Karl Largerfield as a ‘multi-tasking creative genius’. Combining and integrating artistic expression with commerce is necessary for fashion businesses to develop.

In the United Kingdom, the fashion industry is the biggest creative industry (Donaldson, 2016) and was ‘worth £26 billion & 800,000 jobs to the economy’ in 2016 according to the British council. Before the COVID-19 pandemic, the industry was ‘generating $2.5 trillion in global annual revenues’ (Amed et al. 2022) according to research in the 2023 State of Fashion by McKinsey.  These statistics demonstrate the extensive size of the industry with thousands of jobs in areas of fashion just in the United Kingdom. 

The recent State of Fashion report by McKinsey & Co also explains that the non-luxury sector may have difficulty in achieving significant progress in 2023 and success in different sectors in the industry varies globally. Depending on a country’s economy and general accessibility to technological platforms, this may influence the performance of digital and luxury clothing markets in a particular location.  As artificial intelligence continues to develop, it is predicted that generative AI could add ‘up to $275 billion to the apparel, fashion, and luxury sectors’ operating profits, according to McKinsey analysis’ (Harreis, et al. 2023). 

Amed, I. et al. (2022). The State of Fashion 2023: Holding onto growth as global clouds gather. McKinsey & Company

https://www.mckinsey.com/industries/retail/our-insights/state-of-fashion

Donaldson, A. (2016). The Power of Fashion. British Council

https://www.britishcouncil.org/research-insight/power-fashion

Harreis, H. et al. (2023). Generative AI: Unlocking the future of fashion. McKinsey & Company

https://www.mckinsey.com/industries/retail/our-insights/generative-ai-unlocking-the-future-of-fashion

Roberts-Island, B. (2020). Virtual Catwalks and Digital Fashion: How COVID-19 Is Changing The Fashion Industry. Forbes.

https://www.forbes.com/sites/brookerobertsislam/2020/04/06/virtual-catwalks-and-digital-fashion-how-covid-19-is-changing-the-fashion-industry/?sh=4e5a2b95554e

Virgil Abloh: Bof 500: The people shaping the global fashion industry. (2022). The Business of Fashion.

https://www.businessoffashion.com/community/people/virgil-abloh

Profit is the ultimate goal for every existing industry, the major reason for people to run businesses, and this is the same for the fashion industry. Based on Fashion United, up to 3.45 labor force is related to the fashion industry, creating 16,300 dollars in GDP per capita. Based on these data we could conclude that the fashion industry can always cause a massive impact meaning the profit flow would affect a large population.

An interesting topic that people commonly discuss is the purpose of fashion, there is fashion for art and fashion for business purposes. It is important for the commerce part to occur, as it provides a great channel to promote fashion. However, it is still important for creators to display their work without connecting with any commerce. Therefore, in fashion shows the organizers will separate the catwalk show area from the commerce exhibitions to clarify the two types of fashion. (Bourdieu, 1993)

There are a few different sectors within the fashion industry, and each of them is indifferent to progress and status. For example, the luxury sector is currently in a great growing phase and is expected to have another 5-10% increase within 2023 (McKinsey, 2022). On the other hand, the fast fashion market is undergoing a decreasing trend. This reflects that the ability of basic customers is decreasing, and the industry needs to take action to change its strategies.

Impacted by economic uncertainties, consumers are likely going to adjust their spending habits and buying preferences, possibly opting for cheaper items or buying less frequently. Therefore, brands can conduct more market research to investigate the changes in consumers’ preferences and launch discount programs to increase consumer satisfaction and undercut the competition through lower prices.

Moreover, brands can focus more on areas with less economic uncertainty because the consumers there are likely going to have a greater ability to buy fashion products. A brand can be affected easily by its economic status, one of the related factors can be its geography. Different cultures and values will differ in fashion in certain areas, the well-known international fashion is mostly led by Paris, London, Milan and New York (Godart 2014). These places are also the areas where there are more target consumers who would purchase fashion products.

References:

Balchandani, Anita. “The State of Fashion 2023: Holding onto Growth as Global Clouds Gather.” McKinsey & Company, McKinsey & Company, 29 Nov. 2022, www.mckinsey.com/industries/retail/our-insights/state-of-fashion.

“Global Fashion Industry Statistics.” FashionUnited, fashionunited.com/global-fashion-industry-statistics.

Overdiek, Anja. “Fashion designers and their business partners: Juggling creativity and commerce”https://intellectdiscover.com/docserver/fulltext/infs/3/1/infs.3.1.27_1.pdf?expires=1697814281&id=id&accname=id22589229&checksum=28B937975F74EEA6C4B34C0871B1B80F

This weeks pillar is profit, profit is important in the fashion industry as it allows for growth and development in a brand and freedom of creative outlet for designers without limitation, with any creative vision being able to bring to life to therefore generate further profit. The fashion industry is a massive economic sector that encompasses everything from clothing, accessories to footwear. “The revenue of the global apparel market was estimated to amount to 1.53 trillion U.S. dollars in 2022, with revenue forecast to increase in 2023, to more than 1.7 trillion dollars ” (Smith, 2023). With an industry so big brands are continuously striving for success. “collections must generate revenue, which is a point of success measurement when ceos and shareholders look at annual reports” (Mitterfellner, 2023). There are limitations to this, creativity sometimes must be subsided for marketability. In order to bridge the gap between art and commerce creative directors look for innovation in all aspects of the brands identity in order to excite consumers. For example, Karl Lagerfeld transformed runways into immersive experiences “he recreated supermarkets, an airport in the middle of Paris’s Grand Palais, had a giant rocket in the room”(Mitterfellner, 2023) Karls shows always captivated audiences and left a lasting impression. 

“The COVID-19 crisis has a great impact on the economy, including the luxury fashion industry, where sales have declined. The pandemic has interrupted supply and demand.”(Xie & Youn, 2020) Whilst some companies were able to change and survive many went into decline. For example, ,many non- luxury brands such as Debenhams and Topshop when bankrupt compared to luxury brands like Patrick Mcdowell who ran with the restrictions and turned out in success. AI is forthcoming in the industry, we have seen designers such as Patrick Mcdowell taking part in the first digital fashion week during the pandemic. This included designed garments being made into digital fashion rather than physical. “digital fashion gives the sense of inclusivity and accessibility that comes with it, because everyone with Wifi can experience it. This collection was open to everyone; everyone had a front row seat”(Murray-Nag, 2021)In order to stay relevant brand must look to gain traction from the new generation and look to the future. “AI applications reveals remarkable use cases, including predictive analytics for efficient production, personalisation to enhance product longevity, and virtual fitting rooms to limit wastage.”(Rathore, 2019) The use of AI not only appeals to the younger generations as exiting and innovative,  but it also has positive environmental impacts which have become more and more important to young people. 

Reference list 

Mitterfellner, O. (2023). Luxury Fashion Brand Management and Sustainability. Mastering Fashion Management.

Murray-Nag, B. (2021, February 3). Patrick McDowell: How I created my first fully digital fashion collection – eco-age. Eco. https://eco-age.com/resources/patrick-mcdowell-digital-fashion-collection/

Rathore, B. (2019). From trendy to green: Exploring AI’s role in Sustainable Fashion Marketing. International Journal of New Media Studies, 06(02), 12–22. https://doi.org/10.58972/eiprmj.v6i2y19.120 

Smith, P. (2023, August 31). Topic: Apparel market worldwide. Statista. https://www.statista.com/topics/5091/apparel-market-worldwide/#:~:text=The%20revenue%20of%20the%20global,more%20than%201.7%20trillion%20dollars.

Statista. (August 24, 2023). Revenue of the apparel market worldwide from 2014 to 2027 (in trillion U.S. dollars) [Graph]. In Statista. Retrieved October 22, 2023, from https://www.statista.com/forecasts/821415/value-of-the-global-apparel-market

 Xie, J., & Youn, C. (2020). How the luxury fashion brands adjust to deal with the COVID-19. International Journal of Costume and Fashion, 20(2), 50–60. https://doi.org/10.7233/ijcf.2020.20.2.050 

The profit pillar is defined by the economic face of the fashion industry. In this pillar success is defined as mass production and rising profits.

The fashion industry is currently valued at $1.7 trillion globally and 430 million workers (Ariella, S 2023). “Fashion is believed to be one of the world’s most important industry, and if it were ranked alongside individual countries GDP, the industry would represent the seventh-largest economy in the world,”(McKinsey, 2017). Like every industry, the fashion world were negatively affected by the Covid-19 pandemic, where the market dropped almost 40% between the start of January and March, 2020 (McKinsey 2023).According to the Euromonitor apparel and footwear shrunk by -18.1%  in 2020, however the market also grew 18.1% post-pandemic due to ‘revenge shopping’. (McKinsey 2023).

The effects of the pandemic and inflation on the fashion industry are impactful, with the footwear and apparel market forecasting to lose many consumers. Despite the public tightening their purse strings against the rising energy prices hasn’t stopped the growth of the luxury market. It’s sales are projected to grow 5 percent to 10 percent in 2023 (McKinsey 2023). This can be explained by the wealthy people who are the target demographic for luxury brands, and are also the least affected by inflation, therefore will continue to purchase goods (Kim 2023). On the other hand, non-luxury fashion sales are forecasted to grow between negative 4 percent and positive 1 percent (McKinsey 2023), explained by inflation, energy prices from the Ukraine crisis and a post-pandemic environment.

For brands to remain competitive and raise profits, they use trend forecasting. However, in uncertain economic times trend forecasting can be difficult, and therefore companies may not be able to keep up. One way for companies to survive challenging times is to create partnerships amongst each other and share their consumer data, increasing the accuracy of forecasts made by designers (A, Berg 2023). In 2023 demand patterns aren’t as stable as they used to be, so brands need to learn how to be more flexible and adapt. Until the nineteenth century, fashion wasn’t considered art and any fashion illustrations were for costumes or logical use (Goethe-Jones, S 2019). In 2023, clothing is viewed drastically different, with museums and galleries exhibiting garments, and events such as Paris Fashion Week and the Met Gala showcasing designer’s creations. Fashion brands hire creative directors to bridge the gap between the designer’s artistic view. A creative director takes the brands creative vision and translates this into a visual language that resonates with consumers (YellowBrick 2023). They turn art into commerce and build the brands profits, upholding one of the pillars of fashion.  

References

Ariella, S. 2023.

28 Dazzling Fashion Industry Statistics [2023]: How Much Is The Fashion Industry Worth – Zippia

Berg, A. June 2022. How current global trends are disrupting the fashion industry.

Fashion industry challenges and global disruptions | McKinsey

Goethe-Jones, S. March 2019. Fashion illustration from the 16^th century to now.

Fashion Illustration from the 16th Century to Now – Illustration History

Kim, W. May 2023. The surprising reason luxury goods are booming.

Dior, Tiffany, Le Creuset: Why we’re buying luxury goods like crazy – Vox

McKinsey. 2017. The State of Fashion Report

The-state-of-fashion-2017-McK-BoF-report.pdf (mckinsey.com)

McKinsey. November 2023. The state of fashion 2023 holding onto growth as global clouds gather.

State of Fashion | McKinsey

Yellowbrick. March 2023. Unleashing creativity what does a creative director do.

Unleashing Creativity: What Does a Creative Director Do? (yellowbrick.co)